CreditBPO was honored to be a co-sponsor for the Chamber of Thrift Banks’ General Membership Meeting. Our presentation featured CreditBPO’s SME pre-clearance platform at origination which allows banks to filter prospective SME borrowers using a Dashboard function that streamlines and summarizes ratings on an SME’s Management Quality, Business Considerations and Conditions, and Financial Performance. Ratings are accompanied by actionable recommendations that help SMEs step up their creditworthiness. Benchmarking of an SME against its industry completes the strategic profiling and composite CreditBPO Rating.

Our presentation was followed by the speech of CTB’s special guest Bangko Sentral ng Pilipinas Deputy Governor Nestor A. Espenilla, Jr. who discussed seven initiatives that the BSP currently has in its agenda. Among them: Financial inclusion (the delivery of financial services to ever wider segments of the Philippine economy) and Financial Technology (FinTech). On the subject of FinTech, DG Espenilla made known the BSP’s support for private entities who use technology to deliver game changing financial services that redefine the economic landscape. He encouraged CTB members to look into these services that help banks quickly obtain and objectively assess credit information within a structure that helps financial institutions comply with Circular 855: Credit Risk Management Practices for Banks and Non-Banks.

It was made clear that others espouse what we firmly believe – that Small Medium Enterprises (SMEs) are a vital component of all economies. The national economy depends on the growth of this sector, within which a majority of the labor force works, for its sustenance. We as a country need to adopt a standard rating solution that bridges the credit information gap to enable exchanges that respect and benefit both SME requirements and financial institution policy. Such a rating solution should consider both actual past performance and prospective initiatives of the SME, while also considering risks inherent in their business. On that premise our FinTech solution, the CreditBPO Rating Report© was developed.

(Note: The CreditBPO Rating Report© is now copyright-registered with the U.S. Copyright Office.)